Pankl Racing Systems AG, headquartered in Kapfenberg, Styria, announces the entry of an Austrian consortium into the company. The Styrian KNILL Group, the Raiffeisen-Landesbank Steiermark and Invest AG are acquiring two thirds of the shares from Pierer Industrie AG. The sale is subject to the condition precedent of approval by the relevant authorities.
Strong Austrian Alliance Secures Sustainable Growth
Following the transaction, the KNILL Group will hold one third, while Raiffeisen-Landesbank Steiermark and Invest AG will each hold one sixth of Pankl Racing Systems AG. The previous majority shareholder Pierer Industrie AG will remain actively engaged in the company with a one-third stake. This new consortium paves the way for a successful future for Pankl Racing Systems AG – to consolidate its leading position in the high-performance segment, secure a course of profitable long-term growth, and continue to expand global market leadership.
“We are very pleased about this Styrian-Austrian solution, which positions Pankl Racing Systems as an independent and innovative technology leader going forward,” emphasises Wolfgang Plasser, CEO of Pankl Racing Systems AG. “Together with our new partners, we are pooling know-how, regional ties and financial stability to further expand our market position and open up new areas of growth.”
Statements from the Shareholders Involved
“By acquiring a stake in Pankl Racing Systems, we are taking on responsibility for another internationally successful technology leader from our home region, and we look forward to actively and sustainably shaping its future development,” say Christian Knill and Georg Knill, owners of the Knill Group, adding: “With this step, the Knill Group is strengthening its commitment to the advancement of innovative industrial companies in Styria.”
“Together with the Knill Group, Raiffeisen is contributing to the further strengthening of Styrian industry and the business location. Pankl Racing Systems is an exemplary demonstration of technological expertise, top performance and international competitiveness from Austria,” explains Martin Schaller, CEO of Raiffeisen-Landesbank Steiermark.
“This consortium demonstrates a clear commitment to the Styrian location and underscores our full confidence in the strategy and innovation potential of Pankl Racing Systems AG. As a core shareholder, we embrace our responsibility and will continue to actively support the path the company has taken,” adds Stefan Pierer, sole shareholder of Pierer Industrie AG.
About the Knill Group
The Knill Group, led in its 12th generation by brothers Christian and Georg Knill, invests strategically in innovative companies that actively shape the future of industry and technology. The corporate group, headquartered in Weiz, is today one of the internationally leading manufacturers of products, services and production systems for the global energy, communications and mobility infrastructure. With 31 companies in 17 countries and around 3,000 employees, the Group generates annual revenues of over 600 million euros. (www.knillgruppe.com)
About Pierer Industrie AG
Pierer Industrie AG is a European industrial group with a focus on Automotive, Aerospace and Electronics. Its portfolio comprises strategic stakes in world market leaders such as Pankl Racing Systems (Racing & Aerospace), LEONI (Energy & Data Management), Rosenbauer (fire-fighting technology, fire and disaster protection) as well as SHW AG and abatec GmbH (electronic controls). Further information at: www.piererindustrie.at
About Pankl Racing Systems AG
Pankl Racing Systems AG, headquartered in Kapfenberg, is a leading manufacturer of high-performance components in the niche markets of motorsport, the high-end automotive sector and aviation. The Austrian company was founded in 1985 and currently employs around 2,150 people, more than 1,500 of them in Austria. Most recently, annual revenues of around 360 million euros were generated.
Pankl Racing Systems AG stands for innovation, quality and the highest precision. Further information at: www.pankl.com
About Raiffeisen-Landesbank Steiermark
Raiffeisen-Landesbank Steiermark is the apex institution of the Raiffeisen Banking Group Styria and is one of Austria’s most important regional banks. It stands for stability, innovation and regional responsibility, and is active in all key areas of banking – from traditional lending to institutional capital markets. Raiffeisen-Landesbank Steiermark plays an active role as an investor in forward-looking companies, generating added value both for the companies themselves and for the region. Further information at: https://www.raiffeisen.at/stmk/rlb/de/
About Invest AG
Invest AG is the leading Austrian private equity fund, specialising in the provision of equity, equity-like capital and mezzanine capital for companies of various sizes. With its evergreen fund structure, Invest AG has had a strong presence in Austria, the German market, Switzerland and, more recently, Italy for over 30 years, and currently manages fund assets of around half a billion euros.
The typical investment focus is on transactions ranging from 2 to 50 million euros in the form of minority transactions, as well as mezzanine financing. Invest AG’s sector focus is generally flexible, with a preference for consumer goods and retail, industry, technology, software, food, pharma & Life Sciences and medical technology. With currently around 56 portfolio companies, a total annual portfolio revenue of approximately 14.9 billion euros and 135,000 jobs, Invest AG stands for long-term partnerships with companies in various sectors across the German-speaking world. Further information at: www.investag.at